Me Today has announced plans to hold a special meeting of shareholders on March 8 2024, to seek approval for a recapitalisation and restructuring of the company.
The skincare company is looking to raise up to $2.78 million in new capital, with major shareholders Grant Baker and Stephen Sinclair underwriting $2m of the amount.
Shareholders will also be asked to approve the variation and extension to the Jarvis Trust Loan.
The new capital will be raised at 8 cents per share and will include a rights issue for all shareholders.
The independent directors of Me Today have recommended that shareholders vote in favour of the resolutions.
The notice of meeting is accompanied by the Independent Adviser's Report and Appraisal Report, prepared by Armillary.
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